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NYC Outerboroughs Q3 2022 Industrial Market Snapshot

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Occupancy Gains Remains Positive


The New York City’s Outer Boroughs industrial market continued improving through the third quarter of 2022, as absorption remained positive, helping reduce the availability rate once again. The availability rate decreased 40 basis points from the previous quarter to 6.1%, as the market continued to absorb space for the fourth consecutive quarter, registering 5.0 million square feet (MSF) during this time.


Net absorption totaled positive 684,304 SF in the Outer Boroughs and was driven by the Bronx submarket which posted 325,455 SF of positive net absorption. On going occupancy gains in the Bronx have helped reduce the availability rate 140 basis points from the previous quarter, to 7.8%.


Staten Island continues to have the lowest available inventory in the Outer Boroughs market. At 1.2%, the availability rate is down 70 basis points from the previous quarter, as the submarket absorbed an additional 52,500 SF during the third quarter.


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NYC Outerboroughs Q3 2022 Industrial Market Snapshot

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Richard Warshauer

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New York

From advising SUNY Empire State College  in downstate NY for more than 28 years to leasing up a challenged Lower Manhattan office property, Mr. Warshauer assists a variety of space occupiers and property owners overcome seemingly impossible hurdles to achieve their real estate goals.

Also, long track record of office and industrial leasing and sales in NYC's Outer Boroughs: Brooklyn, Bronx, Queens and Staten Island.

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Prior to his career in Commercial Real Estate, Robert worked as Managing Director in Investment Banking at Bear Stearns, Merrill Lynch and Credit Suisse headquartered in New York focusing on debt underwriting and syndicate. Robert's financial background and experience has allowed for the execution of complex real estate transactions to better serve the specific goals and objectives of each individual client.

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